(Adnkronos) - DUSSELDORF, Germany, July 13, 2022 /PRNewswire/ -- Gerresheimer AG, a leading provider of healthcare & beauty solutions and drug delivery systems for pharma, biotech and cosmetics, reaffirms its guidance for its financial year 2022 after delivering a solid second quarter in line with plan. This rounded off the best first
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In the second quarter of its 2022 financial year, Gerresheimer generated revenues of EUR 445m, representing an organic growth of 13%. The focus on investing in key growth drivers, such as High Value Solutions in pharma and beauty, regional expansion and contract manufacturing, is delivering results with sustainable, profitable growth across all divisions. Revenue growth was also supported by the current dynamic pricing environment, with contractual pass-through and sustainable price increases. Adjusted EBITDA rose to EUR 90m, an organic increase of 5.1 %. Adjusted earnings per share (EPS) increased from EUR 1.28 to EUR 1.34.
Gerresheimer has been implementing a broad range of measures to manage inflationary impacts and to ensure continuity of supply of its system critical solutions and services. This includes long-term supply agreements, hedging contracts against energy price increases and passing on price increases. Looking forward, Gerresheimer will further improve its energy mix through the rigorous implementation of its sustainability strategy.
Gerresheimer also rearranged its financial position to support the execution of its strategy. In addition to the EUR 150m promissory note issued in November 2021, the company signed a three-year EUR 150m revolving credit facility on July 1, which addresses its refinancing requirements for 2022 in the amount of EUR 306m, securing improved terms with enhanced flexibility.
The Primary Packaging Glass Division showed impressive organic growth of 19.4%. This was driven by strong demand for both tubular and molded glass with a particular focus on High Value Solutions such as Gx® ELITE Glass. Adjusted EBITDA rose organically by 8.3% and was in particular influenced by higher energy cost.
Plastics & Devices Division revenues grew organically by 8.0%, again benefitting from pass-through effects. Following a strong comparable period, the syringes business was restrained by phasing effects. Adjusted EBITDA decreased organically by 4.2%, impacted especially by temporary unfavorable product mix effects, mainly due to the phasing in syringes.
Gerresheimer Advanced Technologies Division (GAT) continues to lay the foundations for its future growth. In the second quarter, Gerresheimer entered into strategic participations with Portal Instruments Inc to develop a needle-free autoinjector and with Adamant Health Oy to revolutionize the treatment of Parkinson's disease.
Guidance for FY 2022 (For group level, FXN):– Organic revenue growth: at least 10%– Organic adjusted EBITDA growth: high single-digit – Adjusted EPS growth: high single-digit
Mid-term Guidance (For group level, FXN)– Organic revenue growth: high single-digit – Organic adjusted EBITDA margin: of 23-25%– Adjusted EPS growth: at least 10% p.a.
The report is available here:
https://www.gerresheimer.com/en/company/investor-relations/reports
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